Most CME grain prices were higher on Wednesday. The only grain market with a decrease was March wheat, which dropped by $0.1025 and closed at $5.95/bu. March soybeans jumped by $0.035 and settled at $12.22/bu. Additionally, March soymeal increased $5.30 and closed at $368.30/st, and March corn rose $0.005 to $4.48/bu. World geopolitical issues and the Federal Reserve’s rate decision limited grain futures throughout most of the day. Wheat prices faced double-digit losses following a round of technical selling, primarily due to large global stocks and ongoing competition overseas. Soybean and corn prices showed minor gains from some late-session technical buying.

Weekly Ethanol Update

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